The company is set to carry out a wide range of manufacturing and material procurement activities under the new contract options, which have been exercised by the US Naval Nuclear Propulsion Program.
The contracts will primarily support the construction of the US Navy’s Virginia-class submarines.
Work on the project will be carried out over the next several years at BWXT’s US manufacturing sites, which are located in Lynchburg, Virginia; Barberton and Euclid, Ohio; and Mount Vernon, Indiana.
BWXT president and chief executive officer Rex D. Geveden said: “BWXT is very proud to support the men and women in uniform who depend on these propulsion systems every day.
“We appreciate the US Navy’s continued trust in our ability to deliver these components at the highest levels of quality.”
The current contracts options were exercised in the fourth quarter of last year and work in relation to the agreements is already underway.
Furthermore, a series of additional contracts and options for the naval nuclear reactor components’ development are expected to be awarded over the coming months.
BWXT reactors are currently installed on-board the US Navy’s Ohio, Virginia, Seawolf and Los Angeles-class submarines, in addition to the Nimitz and Ford-class aircraft carriers.
Two of BWXT’s subsidiaries previously secured contract options totalling approximately $3.1bn from the US Naval Nuclear Propulsion Program in April 2016, which relate to the development of naval nuclear reactor components and fuel.